14/06/2019 - 07:04

Morning Headlines

14/06/2019 - 07:04

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Morning Headlines

Extra time for MinRes deal

Chris Ellison’s Mineral Resources and US lithium heavyweight Albemarle are expected to formally agree to an extension of the time to complete their landmark $US1.15 billion ($1.7bn) deal over the Wodgina lithium project in the Pilbara. The Aus

Energy bosses blast Taylor for head-in-the-sand plans

Energy bosses have given a withering assessment of Angus Taylor’s first speech since being reappointed as federal Energy Minister, accusing him of having his ‘‘head in the sand’’ and taking a dismissive attitude towards bipartisanship on energy policy. The Fin

Legal option over losses

Retirees left out of pocket by the Sterling First collapse are now looking to legal action as the best chance of recovering at least some of the $20 million they sank into the group’s complex leasing and investment scheme. The West

CEO uber excited over Australia

Uber chief executive Dara Khosrowshahi says fears about the ride-sharing giant’s impact on job stability is media-driven ‘‘drama’’, but warns of the negative fallout from Donald Trump’s trade war. The Fin

Soft response to Landgate has Western Australia in a pickle

It’s back to the drawing board for Western Australia as it seeks to raise funds from the partial privatisation of its land information authority Landgate. The Fin

No-deal tax cuts up to Albo

Finance Minister Mathias Cormann has ruled out doing deals with crossbench senators to win their support for the Coalition’s $158 billion personal income tax cuts, intensifying pressure on Labor to back the plan. The Aus

Huawei maintains 5G ambition

Huawei Australia chairman John Lord has declared the Chinese telecommunications giant is “here to stay” and has no intention of dropping its ambition to participate in the national rollout of the 5G network. The Aus

Assange faces US extradition

Britain has signed an extradition order to send Julian Assange to the US. The West

 

 

The Australian Financial Review

Page 1: Uber chief executive Dara Khosrowshahi says fears about the ride-sharing giant’s impact on job stability is media-driven ‘‘drama’’, but warns of the negative fallout from Donald Trump’s trade war.

Page 2: Energy bosses have given a withering assessment of Angus Taylor’s first speech since being reappointed as federal Energy Minister, accusing him of having his ‘‘head in the sand’’ and taking a dismissive attitude towards bipartisanship on energy policy.

Page 3: The prudential regulator is preparing to crack down on AMP Super and force its board to clean up its act because it is concerned the fund’s trustees have breached superannuation laws.

Page 4: The highest growth rate in jobs for more than a year, rebounding iron ore prices and the ASX 200 near an 11-year high has not changed the financial market’s view that the Reserve Bank will have to cut rates again next month.

Defence Minister Linda Reynolds says access to rare earths minerals has become an issue of strategic importance for much of the Western world, along with the Pacific allies of South Korea and Japan.

Page 5: A major coal seam gas operation predicts that the Queensland government’s shock move to lift royalties will cost it at least $1 billion more over the lifetime of a project.

Page 6: Big infrastructure investors are steering clear of Australia’s energy sector because of the risks and political uncertainties.

Page 8: A potential collapse of a major construction group is the biggest ‘‘sleeper’’ risk in the Australian infrastructure market and governments need to test how many contracts companies can absorb, ratings agency Standard & Poor’s has warned.

Page 10: Indian energy company Adani will begin construction of its controversial $2 billion Carmichael mine within weeks after the Queensland government granted final environmental approvals on Thursday.

Page 13: Treasurer Josh Frydenberg has called for “cool heads to prevail” in the trade tensions between China and the United States, warning that the fracas was sapping investment and slowing the global economy.

Page 17: Wesfarmers chief executive Rob Scott says he is more confident about the group’s prospects than he has been in years despite a plunge in profits from department stores and a challenging outlook for the industrial and safety businesses.

It’s back to the drawing board for Western Australia as it seeks to raise funds from the partial privatisation of its land information authority Landgate.

Page 19: Norway’s massive sovereign wealth fund may soon rip up to $3.7 billion out of Australian fossil fuel companies after the Norwegian Parliament passed a tightened set of ethical investment rules.

Page 22: Wesfarmers boss Rob Scott says the conglomerate must take measured risks to grow after he was forced to defend a potential $3 billion-plus plunge into electric vehicle commodities with takeover offers in lithium and rare earths.

While Wesfarmers’ department store chains are struggling in a subdued retail environment, profit powerhouse Bunnings and office-supplies category killer Officeworks are going from strength to strength.

 

 

The Australian

Page 1: Finance Minister Mathias Cormann has ruled out doing deals with crossbench senators to win their support for the Coalition’s $158 billion personal income tax cuts, intensifying pressure on Labor to back the plan.

Page 4: Huawei Australia chairman John Lord has declared the Chinese telecommunications giant is “here to stay” and has no intention of dropping its ambition to participate in the national rollout of the 5G network.

Page 5: Temporary hiring linked to the election is suspected of driving a surprisingly strong lift in jobs last month, but it was not enough to lower the unemployment rate or weaken the case for another cut in official interest rates this year.

Page 9: Beijing last night lashed out at EU criticism of a planned Hong Kong law that would allow extradition to China as protesters vowed to hold another mass rally on Sunday.

Page 19: Wesfarmers chief executive Rob Scott is hanging his hopes for a resuscitation of the nation’s sluggish $320 billion retail sector on the infusion of billions of dollars into the economy from the recent cut to official interest rates and promised tax cuts from Canberra.

Page 20: Billionaires who feature among the top 10 richest people in Australia are believed to be lining up as prospective buyers for a stake in Telstra’s $1.5 billion property portfolio.

Chris Ellison’s Mineral Resources and US lithium heavyweight Albemarle are expected to formally agree to an extension of the time to complete their landmark $US1.15 billion ($1.7bn) deal over the Wodgina lithium project in the Pilbara.

Page 24: The competition regulator has flexed its muscles in its review of Canadian giant Nutrien’s move on Ruralco, raising some concerns, but the issues it has flagged are not expected to significantly affect the $469 million deal.

 

 

The West Australian

Page 1: Newly installed Liberal leader Liza Harvey has proposed giving public servants bigger pay rises to relieve the cost-of-living burden on families.

Page 5: WA cannot take China for granted and must push to maintain a strong relationship with the superpower, former prime minister Kevin Rudd has warned.

Page 6: Retirees left out of pocket by the Sterling First collapse are now looking to legal action as the best chance of recovering at least some of the $20 million they sank into the group’s complex leasing and investment scheme.

Page 7: Lamb will no longer be dressed up as mutton under a rule change that promises to put our traditional favourite roast on more Aussie dinner tables.

Page 8: Former Opposition leader Mike Nahan will be handed a senior role on the Liberal frontbench.

Page 14: Scandinavian furniture giant Ikea has been scouting around for a site in the southern suburbs that could house a second store in WA.

Page 19: WA Olympic legend Andrew Vlahov has urged West Australians to embrace a more patriotic “green and gold” psyche to help fund the dreams of local athletes. Vlahov, who has replaced former premier Richard Court as the Olympic Team Appeal WA chairman, wants to work with the State Government to devise a better funding model for athletes.

Page 25: Coca-Cola has taken the extraordinary step of launching its first energy drink at the same time as restricting access in schools.

Page 51: From the doghouse to the Mouse House, hugely popular ABC Kids series Bluey is going global thanks to a broadcast deal with Disney.

Page 52: Kevin Rudd has urged Scott Morrison to take up the economic fight directly with Donald Trump by calling on the US President to “end the obsession with national protectionism” or risk a further global slowdown that would “bite us all in the bum”, hurting the Australian economy and risking jobs.

Page 53: Britain has signed an extradition order to send Julian Assange to the US.

Business: Administrators for Gascoyne Resources say it could take up to six months for the fate of the collapsed gold miner to play out.

Afterpay Touch shares have closed down 12 per cent as the high-flying buy-now, pay-later company faces questions about its compliance with Australia’s anti-money laundering and terrorism financing law.

Surging rooftop solar panel installations and improved energy efficiency will push the amount of power sold in the South West down for the first time since at least 2006, according to the operator of the electricity market.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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